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The Growth & Problems with Small Business Lendersby Christopher Menkin

In a follow-up to Thursday's story on Five Point Capital, San Diego, California (1), I had a telephone interview with co-founder and CEO David Gilbert, catching him at the Chicago International Airport, on his trip to attend the Notre Dame-USC game. He confirmed that Five Point Capital was in a wind down mode, collecting on a "lease portfolio," most likely residuals as most leases were discounted to funders.

He has basically moved his operation over to National Funding.

Gilbert, who once headed a 210 employee lease finance operation, said he was "annihilated" in the leasing arena, therefore moved into business loans, then changed his operation over to National Funding, a corporation he started January 27, 1999. He said if the leasing business comes back, he is ready for it as he still has a team working on leasing business.

He told me he was involved in two business loan companies, the other being Quick Bridge Funding, confirming that Jim Grant, formerly of LEAF, was now employed as vice president portfolio servicing. He is glad to have him aboard, as well as employing Bob Sweeney, formerly of Direct Capital, as CFO of National Funding. He also said he owned two rental companies.

Gilbert said Quick Bridge Funding was primarily a third party origination company, where they had a major investor, and wrote primarily six month business loans, relying on brokers for business.

The web site states:

“We provide short-term working capital loans to businesses to service a variety of needs. Whether you need cash to purchase inventory, increase cash flow, support expansion, bridge seasonality, or purchase another business, our working capital program can help you grow your business.

“You can qualify for our working capital program even when you can’t get a traditional loan. Rather than relying on credit, we evaluate your business based on your cash flow – the amount of money you bring in and spend every day.

“With a working capital loan from Quick Bridge Funding, you can focus on what matters: growing your business.”
http://quickbridgefunding.com

National Funding was a direct company only, Gilbert explained, writing primarily nine month business loans, selling them off to a host of other business loan companies, discounting them as he did at Five Point Capital. His web site states they do “small business loans, equipment leasing, merchant cash advance, and credit card processing.”http://www.nationalfunding.com/

FivePoint Capital originally was using a sophisticated qualified business software program developed by David Murray of Direct Capital, Preferred Capital, and Turbo Tax fame. (2) They were also very active using the program in direct mail “pre-approved” lease line credit cards from $100,000 to $250,000 to businesses throughout the United States qualified under the Murray software program.

Many Small Business Lenders Not Licensed

Business loan lenders are required in many states to be licensed, as well as complying with tight regulations, especially regarding usury laws. (3) In California, National Funding is licensed (4), but Quick Bridge Funding is not. Reportedly they have filed for an application, but according to the Department of Corporations Finance Services they do not have a temporary license to do business in California.

Windset Capital, part of the Chesswood Funding Group (also not licensed), does not have a finance lenders licenses in California. Pawnee Leasing, also part of Chesswood, was mentioned to help Windset Capital grow (5). Pawnee Leasing does have a California license (6).

Others in California besides Windset Capital without a license (in their name) include: Braintree, Channel Partners, OnDeck and OnDeck Capital (both names seems to be used), PayPal, and World Business Lenders. While PayPal is also a cash extender, they are also accepting payments as loans and into the cash advance business, as per this announcement (7).

These are very foolish undertakings without a license, especially in California. (8)

The popularity of business loans has primarily been the quick decisions and convenience, with several often only requiring a simple application and the first page from six month bank statements. This contrasts to traditional requirements that include business finance statements, personal financial statements, debt schedules, and/or tax returns on all principals, or looking at the real purpose of the loan.

In introducing Windset Capital, Barry Shafran, President, CEO of Chesswood Group said, "Many U.S. banks can no longer afford to consider loans under $250,000 due to their high internal administration and regulatory costs."

Barry Shafran added, "“To meet the rapidly growing demand by small business for timely access to capital, in an environment where many banks simply will not transact, we have launched Windset Capital." (5)

I take umbrage to the statement as the community and regional banks are both willing and able to consider good lending decisions. It is popular to say banks are not lending, when all the FDIC records show banking profits and loans have been improving since the meltdown a few years ago. The advertising is primarily aimed at those have been turned down, “that it is not their fault, but the bank,” and “we know you are good for the loan, so come to us.”

The facts are these are short term transactions, less than a year repayment, often ACH payments or credit cards. They can be "renewed" when the first schedule loan is due to another short term and the danger lies right there. These are not like “factoring,” although once conditioned for the cash flow, it is difficult to end the “accounts receivable” borrowing.

There is a lot of cash available to investors and groups, so the investment of a higher return than those of the low bank rates make the credit gamble for business loans more attractive and thus investors are underwriter of these high rate, quick business loans. Certainly the business loan companies serve a purpose, often with very good credits, too, where the interest rate will allow the borrower to make a much better return than the cost of the money. There definitely is a marketplace for working capital loans for small businesses (and perhaps large companies, too.) But this is very reminiscent of the subprime mortgage security marketplace that began the recent meltdown.

From a lenders viewpoint, the business loan market is quite unlike leasing as the creditor is not the "owner." The creditor is not often in the position to claim equipment as additional collateral for a deficiency. As a loan, not a lease, the creditor of the business loan enters bankruptcy court with other creditors over assets and liabilities (as well as subject to prior UCC liens or blanket liens and employee claims).

As more and more courts also are crossing over from commercial laws to consumer laws, arguing for a deficiency can be not only expensive in time, attorney, and court costs, but for outstanding balances as well. Even the champ Barry Marks, Esq., in Alabama would have a rough time in a small town court where the debtor has paid 120% of the loan and the remainder is another 30%. Or defending an interest rate that might compute to be 50% APR (or more). (Remember, brokers can get 15% of the loan as a commission, so add that into the cost and figure out what the real interest is---as these are loans, not leases.)

And when the courts find out the company is not licensed in their state, not only will they throw the case out, but charge a fine for usury. Certainly I wouldn’t want to lose in New Jersey!

Many of these new lenders may believe these loans can be sold to professional loan recovery offices and with the high rates, get a better percentage--- or just be written off as part of the cost of doing business due to the profit involved. This professional recovery market is certainly growing where financial institutions prefer to sell off these “assets” rather than try to collect on them or keep them on the books for investors or regulators to complain about.

I also strongly don’t believe their attorneys, who are not insisting the business loan company be licensed in the various states, are ready to move quickly, have written strong contracts, or have experience in this niche marketplace. Their attitude toward not requiring the company to be licensed is a red flag to their legal abilities.

I bring this analogy up all the time regarding hiring an attorney with real leasing and finance experience: You don’t go to an orthodontist for a serious root canal---You go to an endodontist. Although they are both dentists, their practice is a specialty.

Pacific Trust Bank, Irvine, California, active in leasing with David A. Normandin, CLP, Senior Vice President of Commercial Leasing, vice-president, Certified Leasing Professional Foundation, earlier this month sold eight of its "legacy" branches located in San Diego, Riverside and Los Angeles Counties to AmericanWest Bank, a Washington state chartered bank.

The following PacTrust Bank branches were sold in the transaction:

Riverside (2 branches) and Temecula (1 branch), located in Riverside County, California;

Chula Vista (2 branches), El Cajon (1 branch), and San Diego/Claremont (1 branch), located in San Diego County, California; and

Lakewood (1 branch), located in Los Angeles County, California.

"Since 1941, Banc of California, Inc. (NASDAQ:BANC), through its banking subsidiaries Pacific Trust Bank and The Private Bank of California with over $3 billion in consolidated assets and more than 60banking locations.

“October 15, the bank announced the completion of the merger of the Company’s two banking subsidiaries, Pacific Trust Bank and The Private Bank of California, into a single bank named Banc of California, National Association (“Banc of California”). Banc of California will operate under a national bank charter issued by the Office of the Comptroller of the Currency."

Steven A. Sugarman
Chief Executive Office

“I am very proud of our team, their hard work and their accomplishments, including the consolidation of our banking operations, the merger of our back-office systems onto a common platform, and the rebranding of our bank to Banc of California," Steven Sugarman, the Company’s Chief Executive Officer, stated.

”We are now very well positioned to continue improving our operating efficiencies as we head into 2014. Our new name and new brand positions us well to meet the sophisticated banking needs of California’s most successful entrepreneurs, executives and business owners, as well as their families and employees.”

Historically, the First Bank of California was opened in San Francisco, on July 4, 1864 by William Chapman Ralston. It was reportedly the first commercial bank in the Western United States. It grew to become a tri-state bank and on April 1, 1996, merged with Union Bank to form Union Bank of California, according to Wikipedia, the third largest commercial bank in California.

Don’t wait for Thanksgiving to be thinking about 2014. Now that we know the government is not going into default on its payments, the push should continue to have a dynamic Fourth Quarter---As well as you should no longer put off working on your business plan for next year.

A business plan is a guide post for your expectations and what direction you or your leasing company will take next year. I have written many times on business plans and yearly budgets so that the firm can judge its path as it moves through the year.

What I would like to recommend is not only the basic plan, but having a policy to direct daily activities. A business plan is a wish list of direction for the company ---but a policy is what keeps the firm on a firm path.

A policy is a standard document for banks that are under regulatory controls so they place a lot of do’s and don’ts in written form to guide what can and cannot be done. I have asked the question of many bankers do you have a policy and do you follow it? Many knew they had one but had never read it -----and some who had, said it was too complex to fully understand or remember. Often they view it just for the regulators to show they had a plan.

No matter the size of the company, a policy sets the standards for proper performance by each employee and comforts management that things should be in order. However it is of no good if it is not understood or made available to each employee. It also needs to be simple and direct and not in book form. Or written just to show you have a policy. Policies can get too deep, too boring, and wind up destroying what they are trying to accomplish.

I suggest a semi-annual meeting to explain the contents of the policy and discuss its purpose to everyone. Some policies need to have the purpose explained along with the statement. A better informed employee staff reduces problems and issues.

The business plan and parts of the budget could be included in a semi-annual meeting but do not fall into the trap of making this meeting a large presentation and lose the involvement of the staff who may want to insert good observations and ask questions. You may want them to submit written questions prior to the meeting and allow for lots of time for additional issues.

I would suggest an offsite location on a weekend so standard business needs do not get in the way. Corporate boards do this. Why not key staff take one or two days on a weekend every six months. It is not too much to ask and allows a little steam to be vented.

The more you involve the staff, the better your firm will operate and business should flow better. In addition sometimes suggestions from the staff on how to organize the workflow could help improve business flow and reduce costs.

The more people who contribute to the plan, the more likely they are to see implementation through to completion. Within reason, they don’t feel dictated to. As well as you are building them for higher executive positions, hopefully at your company, as they feel (and realize) part of the success is from their involvement.

Organization and direction support success. Confusion and doubt slow a company’s progress and sometimes spell disaster.

Next year we move closer to a change for equipment leasing. We need to understand where we are going, and as important, to get everyone on the same page of directions of where we are headed.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at terrywinders11@yahoo.com or 502-649-0448.

Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.

Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame.

502.649.0448/terrywinders11@yahoo.com

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)

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“How Do I Explain Being Unemployed for Awhile?”Career Crossroad---By Emily Fitzpatrick/RII

Question: I have been unemployed for a while, and I am looking to reenter the market. I am in the interviewing process and know I will be asked why I have been out of work for such a long period of time. How do you suggest I handle?

Answer: I am not aware of the circumstances surrounding your unemployment – however, we all know this industry went through a huge downturn for several years, and many were affected.

As a note, I strongly suggest that those out of work must remain active by participating in activities that enhance their career, e.g. certifications, education, language classes, etc… I believe that any position is better than being inactive. Even if a position seems beneath you, being employed will reflect positively with potential employers.

Seeking skills and more education during this time is also a big plus.

Individuals in sales roles should never have long-term gaps. Almost every company out there looks for INCOME producing employees. If you have to, take a commission only position, until you fit the right fit – “commission only” is better than having a gap in employment.

If you can’t find work in your field, no matter how related---take other positions in the meantime as well as take this time to enhance your skills. I cannot emphasize enough the need to enhance your career or industry expertise during these gaps!

In general terms if you did not remain active:

You MUST have an explanation for any gaps in your employment history. If not, you are unlikely to receive a job offer. Emphasize that you were not just looking for a “job” but rather a career, and that you are looking to make long-term contributions to your new employer. If within those gaps you took “jobs” to stay busy, explain your desire to remain actively employed (just make sure you are also keeping your foot in the industry you specialize in e.g. associations, conferences, etc…).

For example, “… I made the decision that the next job I took would be one where I could settle down and do my best to make a solid contribution. From everything I have heard about this company, you are a group that expects people to pull their weight; I thrive in this type of an environment …”

Answer the question, complement the interviewer and shift the emphasis from being unemployed to how you can receive a job offer.

NorVergence, New Jersey (09/13) Thomas N. Salzano pleads guilty to five felony counts of theft over $500 and was sentenced to three years’ supervised probation. He also is to reimburse the District Attorney's Office for the cost of prosecution; ends case that began in 2009. " I was to be one of their witnesses. During the preparations, I was informed that the attorneys Mr. Salzano had hired were not cheap. I asked how he was able to afford his attorneys and was told by the state investigator that they weren't allowed to ask that question. It seemed, however, that Mr. Salzano had access to the money he needed to pay them."

Innovative Lease Services, Carlsbad, California (09/13) surpasses their 1,500th customer in 2013 with processed applicant requests in excess of $95 million in Small Business Equipment Financing and Working Capital, doubling figures from the previous year.

Across the country, home purchase loans accounted for just 26.82% of all lending activity while refinancing accounted for 67.41%. Those figures differed significantly from a 32.31% home purchase share and 61.67% refinancing share in 2011. Figures for home improvement and multifamily dwellings were relatively similar year over year.

The refinancing share was the highest over the last five years. In 2009, the dynamic was close with 66.87% of all lending activity dedicated to refinancing, a figure that declined in 2010 and 2011 before jumping last year.

By geography, California and Wisconsin appeared to be the refinance leaders and Texas the purchase leader.

Generally, California leading refinance share and Texas topping purchase share fits long-running themes of affordability and economic strength, respectively. The average listing price in California was $728,877, as of the week ended Oct. 9, compared to an average listing of $290,780 in Texas, according to data from Trulia. And California's unemployment rate clocked in at 8.8% in August, well above Texas' rate of 6.3% the same month. Further, California has long been constrained by tight supply.

"Inventory has just been super tight in this state in those years, and I would say particularly in the San Francisco and San Jose areas. … So a lot of the activity is bound to be refinance," said Dustin Hobbs, spokesman for the California Mortgage Bankers Association. With 83.18% of all loans being "refinancing" in 2012, the San Jose-Sunnyvale-Santa Clara, CA MSA area led all metros in refinance share. Of the top 10 metros by refinance share, four were in California and five were in Wisconsin.

Is Leasing Available for Briggo Coffee Haus Smart Kiosk?Where is Dale Kluga When You Need Him?

Above is this large vending machine by Briggo, Inc., Austin, Texas, labeled a "robotic cafe kiosk" that serves espresso and coffee drinks online or by mobile app or touch screen. The brag is the quality of the coffee by the “robotic barista,” as well as the speed and personal blend that can be memorized in your data phone device.

"The robotic barista takes less than 30 seconds to make a cup of brewed coffee after an order is placed and up to two minutes to create what Briggo calls a perfect espresso drink."

Their goal: To beat Peet's, Starbucks, et. al., in making a better cup of coffee or espresso, and have a barista coffee kiosk on every corner, office building, and retail store.

Three built in 2013 to fulfill waiting list of $3.9 million each. Now Lamborghini announces nine more will be built in 2014, but this time with no roof.

It has an open-air cockpit, which offers no protection from the elements whatsoever: no fabric umbrella contraption, no removable glass or metal panel, nothing to get between your dome and the air rushing by at 220 miles per hour. That's the same top speed as the coupe, while the 0-62 run takes just a fraction of a second longer at 2.9 seconds.

It's the same engine and seven-speed ISR gearbox that powers the Aventador, only tuned up to 750 horsepower for the Veneno. And it should have more power, because at 3.3 million euros (about $4.5 million, give or take a Gallardo), the Veneno Roadster isn't just $600,000 more expensive than the Veneno coupe.

More than likely when you read this, there is a new waiting list as it most likely is already sold out before production.

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Birmingham, Alabama
The lawyers of Marks & Associates, P.C. have over 30 years experience in dealing with virtually every type of equipment financing and are recognized throughout the industry for prompt, practical solutions and exemplary service. They offer cost-conscious, effective lease enforcement and good counsel.
Email: Barry@leaselawyer.comWebsite:www.leaselawyers.com

California & NevadaLeasing and Financial consultant, active in several leasing
associations, as well as involved in music and film productioncin LA. Mention "Leasing News" for a free consultation.
415-858-97111
Skype: 424.235.1658
or kenlaw100@gmail.

Long Beach, CA Wagner & Zielinski, successfully representing lessees/ lessors. Not a member of any leasing organization, therefore not beholden to special interests. Richard Wagner
(562) 216-2952 www.wzlawyers.com

Long Beach CA.Paul Bent -- 30 years experience in all forms of equipment leasing, secured lending, and asset based transactions, from analysis and deal structuring to contract negotiations to closing to private dispute resolution. (562) 426-1000www.paulbent.com

Ex-NFL player Leigh Bodden finds a new career in fitness franchise
http://www.washingtonpost.com/business/economy/ex-nfl-player-leigh-bodden-finds-a-new-career-in-fitness-franchise/2013/10/19/171bb992-35a8-11e3-8a0e-4e2cf80831fc_story.html

SAP Cutting Back on Development of Business By Design
http://allthingsd.com/20131019/sap-cutting-back-on-development-of-business-bydesign/?mod=atd_homepage_carousel

The outlook wasn't brilliant for the Red Sox nine that day,
The score stood four to two with but one inning left to play.
So when Stephens died at first and Tebbetts did the same
A pallor wreathed the features of the patrons of the game.

A straggling few got up to go, leaving there the rest
With he hope that springs eternal within the human breast.
They thought if only Teddy could get a whack at that—
They'd put even money now with Teddy at the bat.

But Dom preceded Teddy and Pesky was on deck.
The first of them was in a slump. The other was a wreck.
So on that stricken multitude a deathlike silence sat,
For there seemed but little chance of Teddy's getting to the bat.

But Dom let drive a single, to the wonderment of all,
And Pesky, of all people, tore the cover off the ball.
When the dust had lifted, and they saw what had occurred,
There was Johnny safe on second and Dominic on third.

Then from that gladdened multitude went up a joyous yell,
It rumbled in the mountains and rattled in the dell.
It struck upon the hillside and rebounded on the flat,
For Teddy, Teddy Ballgame, was advancing to the bat.

There was ease in Teddy's manner as he stepped into his place,
There was pride in Teddy's bearing and a smile on Teddy's face.
And when, responding to the cheers he lightly doffed his hat,
(I'm making that part up)
No stranger in the crowd could doubt 'twas Teddy at the bat.

Ten thousand eyes were on him as he wiped his hands with dirt,
Five thousand tongues applauded as he wiped them on his shirt.
Then when the writhing pitcher ground the ball into his hip,
Defiance gleamed in Teddy's eyes, a sneer curled Teddy's lip.

And now the leather covered sphere came hurtling through the air,
And Teddy stood a-watching it in haughty grandeur there.
Close by the sturdy batsman the ball unheeded sped.
“That ain't my style,” said Teddy. “Strike one!” the umpire said.

From the benches black with people went up a muffled roar,
Like the beating of the storm waves on the stern and distant shore.
“Kill him! Kill the umpire!” someone shouted on the stand,
And it's likely they'd have killed him had not Teddy raised his hand.

With a smile of Christian charity great Teddy's visage shown.
He stilled the rising tumult and bade the game go on.
He signaled the pitcher, and once more the spheroid flew.
But Teddy still ignored it, and the umpire said, “Strike two!”

“Fraud!” cried the maddened thousands, and the echo answered fraud.
But one scornful look from Teddy and the audience was awed.
They saw his face grow stern and cold, they saw his muscles strain,
And they knew that Teddy wouldn't let that ball go by again.

The sneer is gone from Teddy's lip; his teeth are clenched in hate.
He pounds with cruel vengeance his bat upon the plate.
And now the pitcher holds the ball, and now he lets it go,
And now the air is shattered by the force of Teddy's blow.

Oh, somewhere in this land of ours the sun is shining bright,
The band is playing somewhere, and somewhere hearts are light,
And somewhere men are laughing, and somewhere children shout.
And they're going wild at Fenway Park 'cause Teddy hit one out!

First recited by Dick Flavin for Ted Williams, Dom DiMaggio and Johnny Pesky at Ted's home in Hernando , Florida , October 23, 2001.

1520- Magellan entered the strait which bears his name.http://www.mariner.org/age/ma http://www.skittler.demon.co.uk/magellan.htm gellan.html
1692- William Penn was deposed as Governor of Pennsylvania. His overtures of gratefulness to James II for permitting religious freedom for dissenters of the Church of England led William and Mary to charge Penn with being a papist: A Roman catholic; one who adheres to the Church of Rome and the authority of the pope; -- an offensive designation applied to Roman Catholics by their opponents. He was not.http://xroads.virginia.edu/~CAP/PENN/pnintro.html .
1751- The first Baptist association in the American South was organized at Charleston, SC. It was formed under the initiative of Oliver Hart, who had left the Philadelphia area to become pastor of the Charleston Baptist Church in 1749.
1797 - The 44-gun 204-foot U.S. Navy frigate USS Constitution, also known as Old Ironsides, was launched in Boston's harbor. It was never defeated in 42 battles. 216 crew members set sail again in 1997 for its 200th birthday.
1805 -- Battle of Trafalgar, where Nelson defeats Spain and France, establishes British naval supremacy for the next centuries, including trying to re-take its colonies now united in North America.http://www.nelsonsnavy.co.uk/battle-of-trafalgar.html
1808- Birth of American Baptist clergyman Samuel Francis Smith. Credited with writing over 100 hymns, Smith is best remembered as the author of "America" ("My Country, 'Tis of Thee"), written at age 23, while a student at Andover Seminary.
1837 - Under a flag of truce during peace talks, U.S. troops sieged the Indian Seminole Chief Osceola in Florida. Osceola, who was sick with malaria, knew the Indians could fight no more. He went to the General's fort at St. Augustine with a white flag. When Osceola went to General Jesup the General had his men surround Osceola. They threw the white flag to the ground and put chains on his hands and feet. The Seminoles were so angry with Osceola's capture that they continued to fight for the next five years.
1845-Birthday of Will Carleton, American poet, born Michigan. Michigan schools will honor his anniversary (by 1919 statue) bye reading his poems on this day. Best known of his poems: “Over the Hill to the Poorhouse.” Carleton died 1912.
1861-Union troops suffer a devastating defeat in the second major engagement of the war. The Battle of Ball's Bluff produced the war's first martyr and led to the creation of a Congressional committee to monitor the conduct of the war. General Charles Stone to watch the nearby town of Leesburg, Virginia, while McCall's men were moving. Stone sent a detachment across the river on the night of October 20, and the inexperienced soldiers reported seeing a Rebel camp that turned out to be shadows. Stone decided to move more men over until a force of 1,600, under the command of Colonel Edward Baker, was poised for an attack the next morning. Baker was a close friend of President Lincoln, and Lincoln had named his second son after him. Baker placed his men in a dangerous position. They were in a clearing with their backs to the edge of Ball's Bluff, a 100-foot high cliff above the Potomac. They faced a wooded ridge that was rapidly filling with Southerners. The Confederates launched an attack at 3 p.m., and Baker's command was in trouble. Baker was killed, and many of his men jumped from the bluff to their deaths or scrambled down a narrow trail only to find their boats swamped in the river. Less than half made it back to the other side of the Potomac. The Union suffered 49 killed, 158 wounded, and 714 missing and captured, while the Confederates suffered 33 killed, 115 wounded, and one missing. Lincoln was stunned by the loss of his friend Baker, who became a Northern martyr despite his ineptitude in conducting the battle. The political fallout was swift. Angry Republicans were highly suspicious of McClellan, a Democrat, and other generals. The Joint Committee on the Conduct of the War was formed in December. This group was stacked with Radical Republicans who favored tougher treatment of the South and slaveholders. The committee's first investigation was the disaster at Ball's Bluff, and General Stone became the scapegoat. He was arrested for treason soon after and was jailed for six months.
1864-Battle of Westport, MO (Kansas City) A major union victory as after the loss of this battle, the rebels were in retreat in this area until the end of the Civil War. It is called the “last great rebel raid” and a popular song to the tune of “The Yellow Rose of Texas” was often sun at Confederate camps.http://www2.cr.nps.gov/abpp/battles/mo027.htmhttp://bartonpara.com/civilwar/jw/rebraid.htm
1865-George William Gordon, Jamaican national hero, is unfairly arrested and sentenced to death.http://www.moec.gov.jm/heroes/george.htmhttp://www.jnht.com/jamaica/gordon.html http://www.famousamericans.net/georgewilliamgordon
1868- Severe earthquake at 7:53 AM, centered in Hayward, Calif. Magnitude was 7.http://www.seismo.berkeley.edu/seismo/faq/1868_0.html
1879-Thomas A. Edison demonstrated the first incandescent lamp that could be used economically for domestic purposes. the prototype, developed at his Menlo Park, NJ, laboratory, could burn for 13 ½ hours.
1891-Birthdy of Ted Shawn, born Kansas City, MO. Partially paralyzed by diphtheria, Shawn was introduced to ballet for the therapeutic purposes and became a professional dancer by the age of 21. The Denishawn School of Dancing was established with the help of his wife, Ruth St. Denis, and became the epicenter of much innovation in 20t-century dance and choreography. Among his many achievements is Jacob's Pillow Dance Festival, which he inaugurated and directed for the remainder of his years, and such modern ballets as “Invocation to the Thunderbird,” “Osage-Pawnee,” “Labor Symphony” and “ John Brown. “ He died January 8,1972. 1892- Birth of James L Kelso, American Presbyterian archaeologist. He participated in digs at the biblical sites of Debir, Bethel and Jericho, and authored the text "Ceramic Vocabulary of the O.T." http://members.tripod.com/~hardbop/byas.html
1908--- The first two-sided vinyl record (!) was offered for sale by the Columbia label in an ad running in this week's Saturday Evening Post.
1912-Tenor Saxophone player Don Byas born, Muskogee, OK. Died August 24, 1972.http://www.oklahomajazz.com/byas.htm
1912-Birthday of Comedian Minnie Pearl, destined to become a longtime fixture of Nashville's Grand Ole Opry Pearl was famous for her comic monologues about hillbilly life and was featured on the long-running syndicated show Hee Haw from 1970 to 1990. Pearl died in 1996.http://www.cnn.com/SHOWBIZ/misc/9603/pearl_obit/index.htmlhttp://www.150.si.edu/150trav/remember/r1117.htm
1916-Birthday of Floyd Clifford “Bill” Bevens, baseball player born at Hubbard, OR. Bevens nearly pitched the first no-hitter in World Series history, pitching for the New York Yankees against the Brooklyn Dodgers. In Game 4 of the1947 Series, he carried his no-hitter into the ninth inning. With two out and two on, Cookie Lavagetto doubled home both runners, spoiling the no-hitter and winning the game, 3-2.Died at Salem, Or. Oct. 26,1991
1917—Birthday of John Birks “ Dizzy” Gillespie, trumpet player, composer, bandleader, presidential candidate ( I voted for him as “start of stage, screen, and outer space” Mad Magazine)---one of the founding fathers of modern jazz, born at Cheraw, SC. In the early 1940s, Gillespie and alto saxophonist Charlie (Yardbird) Parker created be-bop. In the late 40s, he created a second music revolution by incorporating Afro-Cuban music into jazz. In 1953 someone fell on Gillespie's trumpet and bent it. Finding he could hear the sound better, he kept it that way; his puffed cheeks and bent trumpet became his trademarks. He won a Grammy in 1975 for “Oscar Peterson and Dizzy Gillespie” and again in 1991 for “Live at the Royal Festival Hall.” He died January 6, 1993, Englewood, NJ.
1928-Birthday of Edward Charles “Whitey” Ford, Baseball Hall of Fame pitcher, born New York, NY.http://www.duke.edu/~jrw5/http://www.cosmopolis.ch/english/cosmo2/dizzy.htmhttp://www.downbeat.com/artists/window.asp?aid=16http://www.geocities.com/BourbonStreet/8446/http://www.harlem.org/people/gillespie.html
1932-Birthday of poet Michael McClure born in Marysville, Kansas. "When a man does not admit that he is an animal, he is less than an animal. Not more but less."
1934 - A severe windstorm lashed the northern Pacific coast. In Washington State, the storm claimed the lives of 22 persons, and caused 1.7 million dollars damage, mostly to timber. Winds, gusting to 87 mph at North Head WA, produced waves twenty feet high.
1937-Birthday of Norman Wright, lead singer with the Del Vikings, born Philadelphia, PAhttp://www.destinationdoowop.com/delvikings.htm
1938-Jan Savitt records “Quaker City Jazz.
1940-Birthday of Jimmy Beaumont, lead singer with the Skyliners, born Pittsburgh, PA.”http://www.vocalhalloffame.com/skyliners.htmhttp://www.theskyliners.com/http://www.amazon.com/exec/obidos/ASIN/B00000EP1O/ref=ase_avsearch-musicasin-20/
103-0570268-6906239#product-details
1941-Benny Goodman, the “King of Swing,” cuts “ Clarinet Ala King.”
1942-Birthday of guitarist Elvin Bishop, Glendale, CA.
1943-Birthday of Brian Piccolo, born Pittsfield, MA. He played running back at Wake Forest and with the Chicago Bears. His interracial friendship with Gale Sayers earned him a certain fame, but at age 26 he was stricken with embryonal cell carcinoma, a virulent form of cancer that took his life seven months later. Died at New York, NY. June 16, 1970. His life became the subject of a book, Brian Piccolo: A Short Season, and a made-for television movie, “Brian's Song.”
1944 - Organized Japanese resistance on Angaur, Palau Islands ends. A total of 1300 Japanese are killed and 45 are captured. American forces have suffered 265 dead and 1335 wounded. US heavy bombers are operating from the airfield. The Japanese garrisons on the remaining islands in the group are left isolated.
1944--MOON, HAROLD H., JR. Medal of Honor Rank and organization: Private, U.S. Army, Company G, 34th Infantry, 24th Infantry Division. Place and date: Pawig, Leyte, Philippine Islands, 21 October 1944. Entered service at: Gardena, Calif. Birth: Albuquerque, N. Mex. G.O. No.: 104, 15 November 1945. Citation: He fought with conspicuous gallantry and intrepidity when powerful Japanese counterblows were being struck in a desperate effort to annihilate a newly won beachhead. In a forward position, armed with a submachinegun, he met the brunt of a strong, well-supported night attack which quickly enveloped his platoon's flanks. Many men in nearby positions were killed or injured, and Pvt. Moon was wounded as his foxhole became the immediate object of a concentration of mortar and machinegun fire. Nevertheless, he maintained his stand, poured deadly fire into the enemy, daringly exposed himself to hostile fire time after time to exhort and inspire what American troops were left in the immediate area. A Japanese officer, covered by machinegun fire and hidden by an embankment, attempted to knock out his position with grenades, but Pvt. Moon, after protracted and skillful maneuvering, killed him. When the enemy advanced a light machinegun to within 20 yards of the shattered perimeter and fired with telling effects on the remnants of the platoon, he stood up to locate the gun and remained exposed while calling back range corrections to friendly mortars which knocked out the weapon. A little later he killed 2 Japanese as they charged an aid man. By dawn his position, the focal point of the attack for more than 4 hours, was virtually surrounded. In a fanatical effort to reduce it and kill its defender, an entire platoon charged with fixed bayonets. Firing from a sitting position, Pvt. Moon calmly emptied his magazine into the advancing horde, killing 18 and repulsing the attack. In a final display of bravery, he stood up to throw a grenade at a machinegun which had opened fire on the right flank. He was hit and instantly killed, falling in the position from which he had not been driven by the fiercest enemy action. Nearly 200 dead Japanese were found within 100 yards of his foxhole. The continued tenacity, combat sagacity, and magnificent heroism with which Pvt. Moon fought on against overwhelming odds contributed in a large measure to breaking up a powerful enemy threat and did much to insure our initial successes during a most important operation.
1945—Top Hits
I'll Buy That Dream - The Pied Pipers
Till the End of Time - Perry Como
On the Atchison, Topeka and Santa Fe - Johnny Mercer
You Two Timed Me One Time Too Often - Tex Ritter
1948-Birthday of William Ellis “Bill” Russell, former baseball manager and player, born Pittsburgh, KS.
1950-WILSON, RICHARD G. Medal of Honor Rank and organization: Private First Class, U.S. Army, Co. 1, Medical Company, 187th Airborne Infantry Regiment. Place and date: Opari, Korea, 21 October 1950. Entered service at: Cape Girardeau Mo. Born: 19 August 1931, Marion, Ill. G.O. No.: 64, 2 August 1951. Citation: Pfc. Wilson distinguished himself by conspicuous gallantry and intrepidity above and beyond the call of duty in action. As medical aid man attached to Company I, he accompanied the unit during a reconnaissance in force through the hilly country near Opari. The main body of the company was passing through a narrow valley flanked on 3 sides by high hills when the enemy laid down a barrage of mortar, automatic-weapons and small-arms fire. The company suffered a large number of casualties from the intense hostile fire while fighting its way out of the ambush. Pfc. Wilson proceeded at once to move among the wounded and administered aid to them oblivious of the danger to himself, constantly exposing himself to hostile fire. The company commander ordered a withdrawal as the enemy threatened to encircle and isolate the company. As his unit withdrew Private Wilson assisted wounded men to safety and assured himself that none were left behind. After the company had pulled back he learned that a comrade previously thought dead had been seen to be moving and attempting to crawl to safety. Despite the protests of his comrades, unarmed and facing a merciless enemy, Pfc. Wilson returned to the dangerous position in search of his comrade. Two days later a patrol found him lying beside the man he returned to aid. He had been shot several times while trying to shield and administer aid to the wounded man. Pfc. Wilson's superb personal bravery, consummate courage and willing self-sacrifice for his comrades reflect untold glory upon himself and uphold the esteemed traditions of the military service.
1950-Earl Lloyd, first NBA Black Assistant Coach and the first Black chief scout, becomes the first Black person to play in an NBA game ( beating out Charles cooper and Nat Clifton by a day.)
1950-“The Stu Erwin Show.” This often-imitated sitcom was one of the first of its kind and immensely popular. Stu Erwin starred as himself, a bumbling high school principal; June Collyer ( his real-life wife) as his level-headed wife, June; Ann Todd and Merry Anders as their daughter, Joyce; Shelia James Kuehl as younger daughter, Jackie; Martin Milner as Joyce's boyfriend and alter husband, Jimmy Clark; and Willie Best as Willie, the handyman. The show was also called, “ Life with the Erwin's,” “the New Stu Erwin Show,” and “The Trouble with Father.”
1953—Top Hits
Vaya Con Dios - Les Paul & Mary Ford
You, You, You - The Ames Brothers
Crying in the Chapel - June Valli
I Forgot More Than You'll Ever Know - The Davis Sisters
1954 - - Ian Fleming's aristocratic spy, James Bond, made his film debut when first portrayed by actor Barry Nelson in an episode of the television series Climax, titled "Casino Royale" in 1954. Peter Sellers and David Niven play in the 1967 movie. http://www.all-reviews.com/videos-2/casino-royale.htm
1956-Quarterback and place-kicker George Blanda of the Chicago Bears missed his first extra-point attempt after a record-setting 156 in a row. His kick sailed off to the left, but it hardly mattered as the Bears defeated the Baltimore Colts, 58=27.
1956-- Elvis Presley visits his favorite local movie theater, the Memphian, and is beset by an adoring crowd who, in the ensuing melee, scratch his new Cadillac. Thus begins Elvis' new habit of renting the entire theater whenever he wants to watch a movie.
1957-"Jailhouse Rock" becomes Elvis Presley's ninth Billboard chart topper in the last year and a half.
1957 - The Elvis Presley movie, "Jailhouse Rock", opened in U.S. theatres. The flick also starred Judy Tyler, Mickey Shaughnessy, Vaughn Taylor, Jennifer Holden, Dean Jones and Anne Neyland. Elvis Presley fans consider it to be his favorite. It was not Elvis's favorite, as he wanted to do “serious acting,” rather than just appear in “costumes and sing,” he said often.
1958 - Orchestral strings were used for the first time in a rock and roll tune. Buddy Holly recorded "It Doesn't Matter Anymore", written by Paul Anka. Sadly, it would be Holly's last studio session. The song wasn't released until after his death in February of 1959.
1959 - Dr. Werner Von Braun started work at NASA. By the late 1960s his rockets were taking men to the moon. At age 25 he had masterminded the V-2 rocket for Nazi Germany.
1959— The Solomon R. Guggenheim Museum of modern and contemporary art opened in New York City.
(lower half of: http://memory.loc.gov/ammem/today/oct21.html )
1960 - The fourth -- and last -- debate preceding the presidential election between U.S. Senator John F. Kennedy and U.S. Vice President Richard M. Nixon was televised from New York City. Kennedy would go on to win with an electoral vote of 303; Nixon 219, and Sen. Harry F. Byrd, 15. Kennedy won 94.7% and Nixon 49.6% of the popular vote, making the election one of the closest in U.S. history at the time. In congressional elections, the Democrats took a 65-35 majority in the Senate. In the House, they lost 20 seats but kept a majority of 263-174. http://memory.loc.gov/ammem/today/oct21.html
1960-The Accutron, the world's first electronic watch, went on sale. The watch, produced by Bulova Watch Company in Jackson Heights, New York, used transistorized electronic circuits and a miniature power cell, instead of a spring and gears, to move the watch's hands.
1961—Top Hits
Hit the Road Jack - Ray Charles
Runaround Sue - Dion
Bristol Stomp - The Dovells
Walk on By - Leroy Van Dyke.
1961 -- Bob Dylan records his first album, "Bob Dylan," for Columbia Records. The albums presents the 20-year old singer accompanied by his guitar & harmonica. The recording is done in a day & productions costs run $400. Filling out his income-tax form, Dylan gives his name as Blind Boy Grunt.http://www.rockmine.music.co.uk/BobBooks.html
1963-Michigan Bell Telephone, Detroit, MI, at Jackson, MI, placed into service the4 first “trimline telephone.” The dial was mounted in the receiver midway between the mouth and the ear pierces, eliminating the need to reach for the base when dialing. It introduced the telephone to its entire territory on learning its popularly on August 2, 1965, at a monthly charge of $1.00.
1964- The Rolling Stones appear on Ed Sullivan's TV variety show. It was the first time American audiences had seen the Stones. Founding Stones Mick Jagger and Keith Richards met during grade school and ran into each other when Jagger was studying at the London School of Economics and Richards was at art school. They formed the Rolling Stones in 1962 and were soon playing a steady series of nightclubs and bars in London. They released their first single in Britain in 1963. Before long, the Stones became known as the anti-Beatles: They were long-haired, grungy, and wild, while the Beatles seemed wholesome and safe. A string of drug-related arrests plagued various band members--Brian Jones' drug problems probably led to his death in 1969, and Keith Richards struggled with heroin addiction before getting clean in 1977. They are on another tour. I can personally testify they are still quite the performers. “I Can't Get No Satisfaction” has been voted by Billboard magazine as still the most popular rock and roll song.
1966 -- Grateful Dead, Lightnin' Hopkins & Loading Zone at the Fillmore, with dancing & strobe light show, San Francisco
1969—Top Hits
I Can't Get Next to You - The Temptations
Hot Fun in the Summertime - Sly & The Family Stone
Suspicious Minds - Elvis Presley
Since I Met You, Baby - Sonny James
1967-Over 250 protestors were arrested when thousands of the 50,000 participants in a rally against the Vietnam War at Washington, DC, crossed the Potomac River and stormed the Pentagon. No shots were fired, but many demonstrators were struck with nightsticks and rifle butts.
1972-John H. Conyers becomes the first African-American to enter the US Naval Academy.
1972 - Chuck Berry's "My Ding-a-Ling" hit #1 in the U.S. It was number one for two weeks.
1973-Fred Dryer, defensive end for the Los Angeles Rams, became the first player in NFL history to score two safeties in the same game in the Rams' 24-7 victory over the green Bay Packers.
1975-Catcher Calrton Fisk of the Boston Red Sox hit a home run in the 12 th inning to defeat the Cincinnati Reds, 7-6, in the sixth game of the world Series. Fisk's dramatic homer forced a seventh game in the what is generally considered one of the best World Series ever.
1975-- The city of Los Angeles declares this "Elton John Week" and awards the musician his own star on the Hollywood Walk of Fame at 6915 Hollywood Blvd.
1976 - The Cincinnati Reds beat the New York Yankees in the World Series four games to zip. In game four, played this day, with Johnny Bench slugging two home runs for five RBIs, the Reds rang up a 7-2 victory. It was the Red's second straight World Series championship.
1977---Top Hits
You Light Up My Life - Debby Boone
Nobody Does It Better - Carly Simon
That's Rock 'n' Roll - Shaun Cassidy
Heaven's Just a Sin Away - The Kendalls
1980 – After failing short in 1915 and 1951, The Phillies won their first World Series title. Mike Schmidt knocked in two runs and Tug McGraw stopped Kansas City's hitters, 4-1, in Philadelphia. The Phils won the Series, 4 games to 2.
1983 - The United States sent a ten-ship task force to Grenada, one of the smallest independent nations in the Western Hemisphere and one of the southernmost Caribbean islands in the Windward chain. The Cuban government had decided to utilize the former British colony as a holding place for arms and military equipment, complete with a major airport. Eastern Caribbean nations fully understood the implication of the communist threat and called upon the United States for help. The response was Operation Urgent Fury, a multinational, multiservice effort. Commanding officers of the US Navy ships have not yet been told what the mission in Grenada--to evacuate U.S. citizens, neutralize any resistance, stabilize the situation and maintain the peace-will be.
1985 - William ‘The Refrigerator' Perry of the Chicago Bears led his team to a 23-7 win over the Green Bay Packers. Perry, weighing in at 325 pounds (more than some Frigidaires), became a folk hero as he cut a path for Walter Payton's two TDs. He then plodded over the goal line himself for another score.
1985-A television special called The Carl Perkins and Friends Show, marked the 30th anniversary of the song "Blue Suede Shoes". The event featured Carl Perkins, the song's writer, along with Dave Edmunds, Eric Clapton, George Harrison and Ringo Starr.
1985—Top Hits
Take on Me - a-ha
Saving All My Love for You - Whitney Houston
Part-Time Lover - Stevie Wonder
You Make Me Want to Make You Mine - Juice Newton
1988 - Joan, the last hurricane of the season, neared the coast of Nicaragua packing 125 mph winds. Joan claimed more than 200 lives as she moved over Central America, and total damage approached 1.5 billion dollars. Crossing more than 40 degrees of longitude, Hurricane Joan never strayed even one degree from the 12 degree north parallel.
1989 -First black owners (Betram Lee and Peter Bynoe) to own a major sports team, purchasing Denver Nuggets for $65 million.http://www.piperrudnick.com/lawyers/AttorneyBio.asp?id=20881http://www.geocities.com/~arthurh/Denver-Nuggets.htmlhttp://www.nba.com/nuggets/
1989 - Unseasonably cold weather continued to grip the south central and southeastern U.S. Twenty cities reported record low temperatures for the date, including Calico AR with a reading of 26 degrees, and Daytona Beach FL with a low of 41 degrees. Squalls in the Great Lakes Region finally came to an end, but not before leaving Marquette MI buried under 12.7 inches of snow, a record 24 hour total for October.
1995 - Mariah Carey's "Daydream" was the number one album in the U.S. The album featured the smash hits "Fantasy" and "One Sweet Day" (both debuted on the singles chart at #1).
1997-The Guinness Book Of Records announced that Elton John's "Candle In The Wind" (Princess Diana version) was now the biggest selling single record of all time, with 31.8 million sales in the first 40 days after its release.
1997 - Elton John's tribute to Princess Diana, "Candle in the Wind 1997", was declared by "The Guinness Book of Records" to be the biggest-selling single record of all time. In 37 days, the single reached 31.8 million copies sold, eclipsing the previous record held by Bing Crosby's "White Christmas". The Crosby song sold an estimated 30 million copies worldwide -- in 55 years.
1998 - Patch Adams, starring Robin Williams, opened in the United States. The film was based on the '70s true story of a man who wanted desperately to be a doctor and help people, but spurned the melancholy protocol of medical school in favor of clowning and making a personal connection with patients. Williams and the film were both nominated for Golden Globes.
1998 - The invincible New York Yankees won their 24th World Series. They beat the San Diego Padres 3-0 this day to take the Series 4-0. It was New York's second title in three years and its first sweep since 1950. Scott Brosius was MVP after finishing with a .471 batting average, eight hits, two home runs and six runs batted in. Mariano Rivera and Jeff Nelson both pitched in three Yankee games and both finished with a 0.00 ERA.
2000- In the longest World Series game ever played, the Yankees take Game 1 of the Subway Series, thanks to Jose Vizcaino's 12th inning two-out single, defeating the Mets, 4-3 in four hours and fifty-one minutes. The victory surpasses the streak established by the Murderers' Row clubs as the present Bronx Bombers win their 13th consecutive World Series game.
2002- Florida team president David Samson, in an effort to get fans "falling back in love with the Marlins,'' announces plans which includes free hot dogs and a cozier atmosphere at Pro Player Stadium. The average crowd of 10,038 per home game, more than a third less than the previous season, was next-to-last in the major leagues in attendance this year.
2003-- Elton John signs the deal for the first of his famous "Red Piano" concerts at Las Vegas' Caesar’s Palace.
2005--- Bob Seger sings the US national anthem before today's World Series game between the Detroit Tigers and the visiting St. Louis Cardinals.
2006-After hosting Super Bowl XL at Ford Field in February, Detroit becomes just the second city to host both a Super Bowl and a World Series in the same calendar year. San Diego was the site of the NFL Championship game and Fall Classic in 1998.